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Wednesday, 18 April 18
SHIPPING MARKET INSIGHT - STELIOS KOLLINTZAS
 The return of traders and charterers from the Easter festivities came along with a slight increase in activity across the edible oil markets. However, in most cases tonnage supply has been more than enough to meet demand and rates have been moving sideways as a result.
At the same time the CPP markets are not supporting the situation at all, while a trade war between China and USA is having its own effect in certain routes. Additionally, changes on import/export taxes in the regional palm oil market are also shaping the cargo flow.
As things stand, fundamentals in the veg oil market ex- South America are in charterers favour. CPP freights in the West have been in the doldrums and this is having an effect on veg oil freights as well, as several CPP owners try to find leverage on alternative markets. In addition, an increased import of CPP into Argentina/Brazil is building a long tonnage list in the South Atlantic. As if there were not enough negative factors in the market, the threat of China imposing import taxes on US agricultural products, including soy beans, is causing additional headache to traders.
The tax, which is considered a countermeasure on taxes already imposed by US on several products imported from China, is making traders cautious. This is to say that while soybean price from US has depreciated, the premium gained on the back of it by the soybean price from Argentina and Brazil, has in many cases made the product too expensive for the local crushers to buy. For the record, freight rates are still moving sideways at last done levels, USD mid-30s pmt bss 2/2 (South America/ India) on min 40,000mt.
Freight rates from the Black Sea are currently under pressure. While there is a steady flow of cargoes, the poor CPP market is pushing more Handy and MR tankers to look at loading sunflower oil from the Black Sea, however, shipments for the latter size are becoming scarcer lately. The 30-35,000mtons parcels to India are currently paying about USD high-30s/low-40s, while 35-40,000mtons parcels to China are paying about USD mid-40s, depending on port combination.
The long-haul palm oil market has generated some decent rates during the past month. However, given that the tonnage list for May is longer, unless there is an increase in activity, the positive trend is unlikely to continue. The rates for FOSFA MR ships on a TC Trip Far East/Europe are currently between 15,500-16,500 USD/pd.
Looking into the regional market, it is evident that the increased tax by 14% on India’s palm oil imports has had a significant impact on the country’s buying interest. On the contrary, Malaysia’s decision to suspend export taxes on CPO until the end of April has been partly offsetting the lack of activity in the region. Moreover China’s recently imposed 25% tariff on US soybean imports could generate a growth in demand for regional palm oil, as CPO can be used as an alternative in certain circumstances.
By Stelios Kollintzas
Specialized Products
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Wednesday, 27 January 10
PEABODY ENERGY EYES 'RED HOT' ASIAN COAL DEMAND
US miner Peabody Energy has seen already-strong Asian markets become “red hot”, as demand for metallurgical and thermal coal strains sup ...
Wednesday, 27 January 10
KOLKOTTA BASED POWER UTILITY CESC LOOKING FOR 100,000 MT OF COAL FOR MAY & JUNE DELIVERY
COALspot.com (India): Kolkotta based power utility CESC, the flagship company of the diversified RPG group of India, has issued a closed tender to b ...
Tuesday, 26 January 10
FREIGHT COST ERODES INDIA CEMENTS NET
"Freight cost increased from an average of around 14% of sales in the previous quarters to around 20% in the third quarter"
The Decembe ...
Tuesday, 26 January 10
VITOL BUYS EXPORT SPACE AT COLOMBIA SANTA MARTA PORT
Global energy trader Vitol has signed a four-year deal to take export capacity at Colombia's 3 million tonnes a year Carbonsan port in Santa Marta, ...
Tuesday, 26 January 10
AUSTRALIAN FIRM TO MINE COAL IN WEST BENGAL
India Resources Ltd (IRL), a mining firm listed on the Australian Stock Exchange, has decided to enter into contract mining of coal in
India ...
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- Indian Oil Corporation Limited
- Economic Council, Georgia
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- Indogreen Group - Indonesia
- The University of Queensland
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
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